bullish
Vertex Pharmaceuticals (VRTX US): Beat-And-Raise Q2 Results Driven by Strong Uptake of Trikafta
195 Views05 Aug 2022 18:50
SUMMARY
- Vertex Pharmaceuticals (VRTX US) reported strong Q2 results, with both revenue and adjusted EPS surpassing consensus. Flagship drug, Trikafta reported 51% y/y revenue growth and contributed 86% of revenue.
- Vertex estimates more than 25K CF patients that are addressable with its Trikafta are still untreated, thereby providing sustainable growth opportunities. No immediate competition is seen.
- The company lifted 2022 product revenue guidance by 2% at the mid-point to $8.6–8.8 billion. R&D costs are also expected to remain elevated as multiple ongoing clinical trials.
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Tina Banerjee
Global Healthcare Analyst
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